What you need to know

What the sell off means for students, and anyone who has graduated in the last 15 years, is that interest rates could rise (although the government has ruled this out – it is not inconceivable). This would force graduates to pay more back - despite lower wages and lower job prospects for many.

In addition, we are all likely to lose out in the long term, because of the terms and conditions of the expected sell off (if the sale of older student loans are anything to go by). Clauses are introduced that mean there's little risk to the companies involved, while the public is forced to compensate the buyers of the loans if repayments are lower than expected.

“The selling off of tranches of the student loan book to the highest bidder for less than their worth is economic illiteracy. It doesn’t just penalise students and graduates, it is taking money from the public purse which could and should be spent on services over the long term.” - Sorana Veiru, VP of National Union of Students, 2016/17

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